Download MBI 600 Chapter 8 Exam: E-commerce, Digital Marketing, and Omni-Channel Retailing and more Exams Information Systems in PDF only on Docsity!
MBI 600 Chapter 8 Exam Questions With
Correct Answers
Empowered Price Sensitivity - ANSWER using the latest technology to find the lowest price available Nonlinear Search and Influence Patterns - ANSWER consumers pursue path through a range of new communications channels including social media, mobile ads, e-mail, search marketing, and other digital communications Channel Hopping - ANSWER increased communication channels through which consumers can now purchase products (traditional retailers, online, and via mobile devices and apps) called social commerce. Trends and Changing Behavior - ANSWER empowered price sensitivity nonlinear search and influence patterns channel hopping digital immigrants digital natives digital dependents Digital Immigrants - ANSWER older consumers that fundamentally view retail channels as separate and distinct Digital Natives - ANSWER first digital generation surrounded by digital devices and Internet connectivity Digital Dependents - ANSWER emerging generation growing up in a world of broadband connections, constant connectivity that place greater demands on retailers to use technology. Need for Convenience - ANSWER Economic and social factors lead to more stressful lives. Consumers look for __________ and ________ _________ that reduce the impact on time and financial resources. - ANSWER products and shopping channels
An increasing demand to satisfy __________ _____________ and ____________ _________and _____________. - ANSWER immediate gratification and desirable goods and services Describe how an omni-channel retailer is likely to be different from a traditional, single- channel retailer? - ANSWER Why are retailers likely to view technology as both a blessing and a curse? - ANSWER What does the concept of digital native, digital immigrant, and digital dependent help us to understand about people's use of technology during shopping activities? - ANSWER Describe the factors that influence consumer shopping behavior today. - ANSWER B2C - ANSWER business to consumer The most well-known B2C site is ________, whose IT developments received U.S. patents that keep it ahead of competition. - ANSWER Amazon.com Electronic Wallet (e-wallet ): - ANSWER a software application that can store encrypted information about a user's credit cards, bank accounts, and other information necessary to complete electronic transactions. Purchasing Online - ANSWER Broader selection, lower prices, and easy searching and ordering are featured through e-commerce Business to Consumer: Amazon Model - ANSWER Invested hundreds of millions of dollars in warehouses designed for shipping small packages to hundreds of thousands of thousands of customers Business to Consumer: Amazon Model - ANSWER Numerous patentable e-commerce designs provide continued competitive advantage Business to Consumer: Amazon Model - ANSWER Designed One-Click shopping, highlighted by the e-wallet, allowing order status viewing and order fulfillment modifications. Electronic fund transfer (EFT): - ANSWER transfer of funds from one bank account to another over a computerized network. Online Banking - ANSWER Investment options and loan rates online easily undercut those of many brick-and-mortar (conventional) banks.
systems to accept and process huge volumes of small orders, physical delivery including labeling. reverse logisitics - ANSWER the return process Viability and Risk of Online Retailers - ANSWER The dot.com era bankrupted many pure online retailers due to cash flow, customer acquisition, order fulfillment, and demand forecasting problems. Low entry barriers intensify competition! -How long to operate while losing money? -How to finance operating losses? Early dot.com model: - ANSWER Generate enough revenue from advertising to keep the business afloat until customer base critical mass is reached. Too few dotcoms were competing for too few advertising dollars Advertising went to a select group of sites (AOL, MSN, or Yahoo) Online Business and Marketing Planning Build the marketing plan around the _________, rather than on ________________. - ANSWER customer products Online Business and Marketing Planning - ANSWER Monitor progress toward the one-year vision for the business in order to identify when adjustments are needed, and then be
agile enough to respond. Identify all key assumptions in the marketing plan. When there is evidence that those assumptions are wrong, identify the new assumptions and adjust the plan. Make data-driven, fact-based plans. List three online marketing planning recommendations - ANSWER Monitor progress toward the one-year vision for the business in order to identify when adjustments are needed, and then be agile enough to respond. Identify all key assumptions in the marketing plan. When there is evidence that those assumptions are wrong, identify the new assumptions and adjust the plan. Make data-driven, fact-based plans. Explain why retail banking has become one of the least trusted industries by consumers since the early 2000s. - ANSWER Describe some of the ways that Ally Bank has become one of the most successful direct banks in the industry today. - ANSWER How has Amazon maintained its competitive edge? - ANSWER Why does channel conflict sometimes occur when companies sell their products through both traditional and online channels? - ANSWER
Dell Computer auctions through eBay Overstock.com for obsolete of excess assets E-sourcing - ANSWER Different procurement methods that make use of an electronic venue for identifying, evaluating, selecting, negotiating, and collaborating with suppliers. Primary methods of e-sourcing - ANSWER Online auctions, Request for Quotes (RFQ) processing, and private exchanges secondary methods of e-sourcing - ANSWER trading partner collaboration, contract negotiation, and supplier selection. Corporate procurement (corporate purchasing): - ANSWER transactional elements of buying products and services for operational and functional needs. Direct procurement - ANSWER buying materials to produce finished goods. Indirect procurement - ANSWER buying materials for daily operations. E-procurement - ANSWER reengineered procurement using e-business technologies and strategies. E-procurement Goals - ANSWER Control Costs & Simplify Processes (streamlining) streamline - ANSWER within an organization's value chain
align - ANSWER the organization's procurement process with those of other trading partners, which belong to the organization's virtual supply chain. analyze - ANSWER spending patterns in an effort to improve spending decisions and outcomes. Electronic Data Interchange (EDI) - ANSWER Public and Private Exchanges Vertical exchanges - ANSWER serve one industry along the entire supply chain (automotive, chemical, manufacturing, etc.). Horizontal exchanges - ANSWER serve many industries using the same products or services (office supplies, cleaning materials, bearings, etc.). Also called Maintenance, Repair, and Operations (MRO) supplies. Briefly differentiate between the sell-side marketplace and e-sourcing. - ANSWER What are the two basic goals of e-procurement? How can those goals be met? - ANSWER What is the role of exchanges in B2B? - ANSWER Explain why maverick buying might take place and its impact on procurement costs. - ANSWER Mobile Commerce, or M-Commerce: - ANSWER The buying or selling of goods and services using a wireless, handheld device such as a cell phone or tablet (slate) computer.
The iTunes Store, Google, and Amazon continue to be leading distributors of digital music, movies, TV shows, e-books, and podcasts. Mobile device improvements are predicted to increase video clips, movie, and television use on/through mobile devices toward $20 billion. Proximity mobile payments, - ANSWER based on RFID technology, will increase to $ billion by 2020Q Mobile Payment Systems - ANSWER In 2016, 38.4 million Americans will have used a mobile phone to purchase goods or services at least once in the last six months Mobile Phone used for: - ANSWER Online shopping or Payment for traditional purchases Mobile Social Networking is the - ANSWER Primary driver of growth in the mobile app industry. Mobile Social Networking - ANSWER Facebook added mobile access in recent years to stay competitive. Snapchat is completely app-based. Occurs in virtual communities, offering users to access their accounts from a smartphone or other mobile device.
Location-Based Marketing - ANSWER Advertising using mobile GPS systems to determine user locations. Structured as mobile social media games to elicit consumer information and ratings for special attention or discounts from retailers. Augmented Reality (AR) - ANSWER Apps that utilize a special technology to create computer-generated graphic superimposed images based on where/how a user points their phone or camera. __________ __________________ must now focus on a set of new factors for optimizing websites for mobile search. - ANSWER SEO specialists Almost _______________ of all Internet searches are conducted from a mobile device - ANSWER 60% Over half of all web traffic comes from ______ __________ - ANSWER mobile devices Google and other Internet search engines now use the ________________of a company's mobile website as part of the criteria for ranking listing in search results - ANSWER performance cloning - ANSWER Duplicating the electronic serial number (ESM) of one phone and using it in second phone, the clone. This allows the perpetrator to have calls and other transactions billed to the original phone.
